Credit Rating Services Act, 2012 (Act No. 24 of 2012)

Board Notices

Requirements for Approval of Compliance Unit

2. Application

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(1)A credit rating agency must in this application for approval of a compliance unit indicate whether it will establish—
(a)a unit within the registered credit rating agency; or
(b)an external compliance unit

 

(2)The registrar must be satisfied that the compliance officer, responsible for the compliance unit, with regard to a unit established under—
(a)sub-paragraph (1)(a), complies with the criteria prescribed under paragraph 3; and
(b)sub-paragraph (1)(b), complies with the criteria prescribed under paragraph 4.